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Discover Card - No foreign transaction fee starting November 6th
Just got this in an email from Discover:
We are pleased to inform you that, effective 11/06/11 we will no longer charge a Foreign Currency Fee on any international purchases made with your Discover® card. Additionally, we will no longer charge a Research Fee for any copies of billing statements or receipts that you request.
Now if Discover were just accepted in more places then this would be a sweet deal. I'll still use my Discover card internationally whenever possible now.
Last edited by j_ten_man; 10-01-2011 at 09:17 AM..
Discover is the hardest card to use overseas, particularly Europe, so I don't think this is a big deal for them. Nevertheless, any improvement is welcome. Attaching it to Paypal would be OK since you'd avoid the transaction fees associated with buying stuff from China.
In Asian countries, it is best to use cash. The employees at the credit card processing centers look for non-Asian names and steal those numbers. It happened to me twice for both times I used my card on two trips years apart.
Good to know, now if only Citibank would take the same approach. I have to pay through paypal with my Citi Amex on Steam or else I get a foreign fee charge if I use my Amex directly. Whole entire policy has so many loop holes, it is total garbage.
Capital One has had not charged the international fee for years and its a Visa Card - this charge is imposed by Visa, not the card issuer, so Capital One is absorbing the charge - I use it only for international travel. I doubt that this Discoverdeal will have any influence on the other card issuers since Discover is of limited value overseas and the issuer will need to absorb the 3% fee, but this is nice to know.
If you travel alot, you should really get the Capital one card and limit the number of cards you need to carry around.
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